Golden Entertainment executive sells more than $346,000 worth of company stock by Investing.com

Director of Golden Entertainment, Inc. (NASDAQ:) Mark A. Lipparelli recently sold a total of 10,773 shares of the company’s common stock, worth approximately $346,856 in transactions. The sales took place over two consecutive days, the first on September 19, 2024, involving 773 shares at an average price of $33.32, and the second on September 20, 2024, for 10,000 shares at an average price of 32, $11.

Shares were sold at prices ranging from $32.00 to $33.37, as reported in SEC filing footnotes. These footnotes also indicate that the prices provided are weighted averages and actual sales occurred across multiple transactions within the specified price ranges.

Following these transactions, Lipparelli’s direct ownership of Golden Entertainment is 72,740 shares. Recent sales of a domestic company can be of interest to current and potential investors as they monitor stock activity and assess the company’s financial health and insider confidence.

Golden Entertainment, based in Las Vegas, Nevada, operates in the entertainment and recreation sector, offering a wide range of services and entertainment options. The company has a history of name changes, formerly known as Lakes Entertainment Inc and Lakes Gaming Inc.

In other recent news, Golden Entertainment reported mixed results in its Q2 2024 earnings. The company reported revenue of $167 million and EBITDA of $41 million, with a slight decline in total property revenue and consolidated EBITDA. However, STRAT, a key property, generated record hotel revenue for the quarter. Challenges have been noted in the company’s operations in Laughlin and Nevada Locals Casinos, while optimism surrounds its tavern business and upcoming events.

The company has successfully repaid over $750 million in debt since early 2021 and net leverage is currently below 2x. Golden Entertainment is also planning share buybacks and anticipating benefits from the F1 event, among other strategic initiatives. Despite a decline in revenue and EBITDA at the Laughlin and Nevada Locals casinos, the company’s tavern business posted a 3% increase in revenue due to the acquisition of six new taverns.

Recent developments include efforts to improve midweek occupancy, which remains nearly 18% below 2019 levels, and anticipation of increased visitor attraction to STRAT in the fall with Atomic Golf. Interest in Belle Land has been received, with non-game development opportunities being explored. Despite not missing previous occupancy rates and facing lower-tier customer engagement challenges, the company continues to focus on strategic initiatives aimed at improving direct bookings and midweek occupancy.

InvestingPro Insights

Golden Entertainment, Inc. (NASDAQ:GDEN) has seen some remarkable insider activity recently, which can often provide valuable clues for investors. To better understand the company’s financial background in light of these transactions, InvestingPro data provides a snapshot of Golden Entertainment’s current market position. The company has a market cap of about $891.06 million, a relatively low P/E ratio of 3.33 and a price-to-book ratio of 1.65 for the trailing twelve months to Q2 2024. These numbers may suggest that the stock it trades at a valuation that could be attractive to value investors.

However, it is important to note that analysts expect sales to decline in the current year, with revenue growth reported at -26.14% over the trailing twelve months to Q2 2024. This is coupled with a substantial quarterly revenue decline of -41.63% in Q2 2024. Despite these challenges, Golden Entertainment managed to maintain a gross profit margin of 47.72%, indicating the company’s ability to retain a significant portion of sales as gross profit.

InvestingPro Tips highlights that Golden Entertainment’s share price movements have been quite volatile, which could be a point of concern for risk-averse investors. Moreover, the company’s short-term liabilities exceed its liquid assets, which could signal potential liquidity risks. However, it is worth noting that analysts predict the company will be profitable this year and has been profitable for the past twelve months. For those looking deeper into company performance and future prospects, InvestingPro offers additional tips, with a total of 9 tips currently available on the platform at https://www.investing.com/pro/GDEN.

As investors consider the implications of insider trading and company financial data, this information can help make more informed investment decisions. Golden Entertainment’s next earnings report is expected on October 31, 2024, which will be a key date for investors to watch.

This article was generated with support from AI and reviewed by an editor. For more information, see T&C.